The owner of WeChat, Tencent, is seeing profits hit newer, higher ground this year, with the desired boost for shares. According to the company, share values have seen an increase of 5% this week, with games contributing a significant percentage. Over the first quarter of 2018, the company’s annual revenues have continued a longer increase of 61%.
Overall, that equates to 23.29 billion Yuan, or £2.73 billion, with 26% of that amount coming from its gaming apps such as Honour of Kings. As of this year, WeChat has become the largest online messaging application used in China.
Tencent on a tear with profits skyrocket
One of the most recent successes WeChat has enjoyed was due to its implementation of online games to its platform. According to a statement by Tencent on their website, users responded with overwhelming positivity to their inclusion. “We opened up the platform to third-party game developers in late March, and over 500 Mini Games are now available.”
Its integration of new technology has paid the organisations dividends with its rapid applications. These include fast payment systems that streamline transactions within the app. This implementation has resulted in the growth of revenue from other businesses by 111%.
“For merchants, we introduced a scan-to-buy solution, as one of our smart retail initiatives [which allows] customers to skip the check-out queue, boosting transaction efficiency during peak hours.”